So how do y’all want to pay for the mess on Wall Street. Would you like to go ahead and pay now and help the government get further into the mortgage business (and further along the road to socialism), or would you like to wait until the economy is really in the crapper, unemployment is through the roof, and even folks who deserve one can’t get a loan. I’m no economist, but this looks like a real lose-lose situation to me. The one bright spot is that if the Dems are against it then Bush’s advisers might actually be on the right track. That and the fact that even though Bush pisses a lot of people off he is usually against spending unnecessary money, which kind of makes me think that doing something now rather than sucking it up later might be a good idea. Unless he has a bunch of stock in AIG and Lehman. I also think that I agree with the fact that if the .gov has to step in with taxpayer cash to save your company then nobody earns over $80k until the loan in paid back and the company is back in the black. If your company isn’t sucking off of the taxpayer teat then feel free to pay whatever salary your stockholders will approve.
Before anyone starts in on how this situation was created by 8 years of Bush let me remind you that it was started by 8 years of the Clinton administration browbeating lenders to give more loans to low income borrowers that shouldn’t have ever qualified.